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Alaska could end to oil checks paid to residents since 1982

8 months 3 weeks 3 days ago June 29, 2016 Jun 29, 2016 Wednesday, June 29 2016 June 29, 2016 10:19 AM in News
Source: Associated Press
By: ApNewsNow

ANCHORAGE - As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block.

It could mean the first time in more than 30 years that most Alaskans won't get a check from the government just for living in the state.

Gov. Bill Walker will announce budget vetoes Wednesday morning. But the Juneau Empire reported earlier this month that he said all options are on the table when asked if he would veto all or part of the $1.4 billion oil check fund appropriation sent to him in the budget by lawmakers.

Alaska state government relies mostly on revenue from oil production to stay solvent. But declining production and a precipitous drop in oil prices have plagued state government, leaving Alaska with a deficit of more than $3 billion for the next budget year.

Walker has proposed several measures to help bridge the gap, including tapping into the oil wealth fund and starting a state income tax for the first time in decades.

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